Home Loan Pre-Approval in Sydney: How It Works and Why It Matters

Pre-approval is a lender agreeing, in principle, to lend you a certain amount, subject to the property and final checks. In a market that moves as fast as Sydney, it is the difference between bidding with confidence and guessing.

What it involves

A full application without the property: income documents, expenses, deposit evidence and a credit check. Done properly it takes days, not weeks, and typically lasts around 90 days with the option to refresh.

What it is not

It is not a guarantee. Final approval remains subject to the lender valuing the property you choose and re-verifying your position. That is also why the lender is chosen carefully at this stage, moving lenders after pre-approval means starting again.

When to get it

Before you fall in love with anything, and certainly before an auction, where contracts are unconditional. Read more on our pre-approval service page, or start with the Buying Position tool to see whether you are close enough to apply. Talk to Charles when you want it done properly.

General information only, not credit, legal or tax advice. Your situation is assessed properly before any recommendation. Government scheme details change; figures are current at the time of writing.